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US Stocks Trading Higher As Fed Chair Powell Eases Concerns Regarding Near Term Rate Hikes

Aug 24, 2018

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US Market Snapshot

  • US stocks are broadly in the black today, following Fed Chair Jerome Powell's speech at the Jackson Hole economic symposium, during which he remarked that he sees "further, gradual" rate hikes. 
  • The S&P 500 is currently up 0.66%, Nasdaq Composite is up 0.83%, and Russell 2000 is up 0.43%
  • Materials (+1.36%), Energy (+1.16%), and Tech (+0.98%) stocks are the top performers in the S&P 500 today
  • Healthcare (+0.35%), Utilities (+0.17%), and Consumer Staples (+0.09%) stocks are the worst performers in the S&P 500 today
  • Investor sentiment for US stocks is positive with the advance/decline ratio for the S&P 500 currently at 5.67x
  • 43 stocks in the S&P500 are at 4-week highs while 20 stocks are at 4-week lows
  • 34 stocks in the S&P 500 are overbought while 3 stocks are oversold according to the 16-day RSI Measure
  • 185 stocks in the Nasdaq Composite are at 4-week highs while 100 stocks are at 4-week lows
  • 345 stocks in the Nasdaq Composite are overbought while 126 stocks are oversold according to the 16-day RSI Measure
  • The VIX is currently little changed at 11.95 from yesterday's close of 12.41

Stocks Trending in the News

Click name for Q-Factor rating and financials data.

  • JetBlue (JBLU) and Southwest Airlines (LUV) are trading 1.19% and 0.25% lower, respectively, after the companies were both downgraded at Wolfe. JetBlue is rated as ‘Neutral’ in both of our US Large-Cap and US Industrial Global Top Picks. Southwest Airlines is also rated as ‘Neutral’ in both of our US Large-Cap and US Industrials Global Top Picks.
  • Papa John’s International (PZZA) is up 4.47% to$44.63, following reports that the company has hired Bank of America Corp (BAC) and Lazard Ltd (LAZ) to help the company stabilize its operations in the wake of the company’s ousting of CEO and founder John Schnatter. Papa John’s is rated as ‘Unattractive’ in both of our US Large-Cap and US Consumer Discreitonary Global Top Picks.
  • Philip Morris International (PM) is down 2.82% to $79.86 after the company was downgraded to hold from a buy rating at Jeffries. Philip Morris is rated as ‘Neutral’ in our US Large-Cap model and as ‘Attractive’ in our US Consumer Staples Global Top Picks.
  • Spectra Energy Partners (SEP) is trading 3.17% higher to $39.05 today, after it was reported that Enbridge Inc (ENB.CN) will be acquiring the company for USD$3.3bn. Spectra Energy is rated as ‘Unattractive’ in our US Large-Cap Global Top Picks.

 

US Treasuries

  • US 2-Year Treasuries are lower with yields up 0.4 basis points to 2.6202%
  • US 5-Year Treasuries are higher with yields down -0.51 basis points to 2.7174%
  • US 10-Year Treasuries are higher with yields down -0.73 basis points to 2.8188%
  • The US Treasury 2s-5s Spread has narrowed 0.91 basis points to 0.1%
  • The US Treasury 2s-10s Spread has narrowed 1.13 basis points to 0.2%
  • US Treasury 5s-10s Spread has narrowed 0.22 basis points to 0.1%

Currencies

  • EUR€ is currently up 0.789% against the USD$ to 1.1631
  • GBP£ is currently up 0.422% against the USD$ to 1.2865
  • CHF is currently up 0.385% against the USD$ to 1.0181
  • JPY¥ is currently little changed against the USD$ at 111.17

Commodities

  • WTI Crude is currently up 1.64% to USD$69.96/bbl with the Brent-WTI spread up USD$0.26 to USD$5.66/bbl
  • Gold is currently up 1.8% to USD$1206.94/oz

*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio

S&P 500 Sector ETFs - Intraday

*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio

Russell 1000 Factor ETFs - Intraday

*Data in Price Return and Updated Real-Time (with a delay), Source: StockDio

S&P 500 Movers

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Outperformers Sector Price 1D% CHG Volume
Autodesk Inc Information Technology 156 14.91%      1,304,291.00
Advanced Micro Devices Inc Information Technology 23.5 5.16%    18,275,654.00
Netflix Inc Consumer Discretionary 353 4.25%      1,602,922.00
Coty Inc Consumer Staples 12.1 3.57%          893,231.00
Activision Blizzard Inc Information Technology 73.6 3.47%      1,398,570.00
Underperformers Sector Price 1D% CHG Volume
Foot Locker Inc Consumer Discretionary 46.3 -13.06%      1,196,483.00
Gap Inc/The Consumer Discretionary 29.2 -9.43%      1,236,334.00
Macy's Inc Consumer Discretionary 36.8 -3.49%          667,315.00
Philip Morris International Inc Consumer Staples 80 -2.87%          561,928.00
Kroger Co/The Consumer Staples 31.4 -2.72%          663,902.00